And-Everything-Else
Love, Life And Everything Else 

Why Are There Increasing Resentment Against US Banks?
 
Can a bank achieve it's business goals with conscience? There is rising resentment for banks and finance institutions such as Bank Of America and Wells Fargo, which have received massive bailouts during the 2008 financial crisis, courtesy of the American taxpayers. The perception is that banks have profited while the common men in the street are struggling with the fallout of the financial crisis.
 
Initially, these US banks irked many people including US President Obama by insisting on paying big bonuses to bank executives even when the banks needed bailout fund to survive. How dumb can one get?
 
Now it is apparent that the US banks have survived the 2008 financial crisis well and are turning in huge profit at a time when many people are still jobless and struggling to make ends meet. Many people supports the Wall Street protest and the sentiment are shared across the globe. The financial crisis is a global issue and not just an American sub-prime housing loan problem. Similar protests have been staged by people in many cities to protest against the rich.
 
These are unprecedent times. The European debt crisis is threatening the world with recession. So we are not out of the wood yet. So while a bank may chase profit, it should do so with an eye on the average man in the street. For example, banks and credit companies like Chase and American Express, charge high interest rate for credit card debt which are as bad as the loan sharks. It is time to review some of these banking practices.

While it is important to achieve the bottomline, it is even more important to achieve it with conscience. After all, everything is about people.